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Prosecutor Gives Former Brocade CEO's Defense an Opening
Prosecutors in the first stock option backdating trial opened an important door Friday, and lawyers for defendant Gregory Reyes barged right in. In his trial on charges of manipulating option prices, the former Brocade Communications CEO has been unable to raise an argument his lawyers were making publicly for months: that Brocade is one of dozens of companies with similar option issues, and was singled out unfairly. Then the government brought up an analyst whose firm held a sizable chunk of Brocade stock.